Columbia Massachusetts Intermediate Municipal Bond Fund Class I3 is a tax-exempt municipal bond mutual fund focused on generating a high level of current income that is exempt from federal income tax and from Massachusetts individual income tax. The portfolio invests primarily in investment-grade municipal securities issued within Massachusetts, maintaining at least 80% of net assets in municipal obligations, with an intermediate interest-rate profile aimed at balancing income needs with principal stability. The fund emphasizes diversified exposure to state and local issuers such as transportation, education, and revenue-backed authorities, reflecting the financing needs of essential public projects across the Commonwealth. Designed for institutional-scale allocations, it features a low expense structure for its category and distributes income monthly, aligning with investors who prioritize tax-efficient cash flows. Within the municipal market, it serves as a targeted state-specific solution for residents seeking state and federal tax-exempt income and for allocators seeking to complement national muni strategies with Massachusetts-dedicated exposure and moderate duration risk. [Sourced: Morningstar profile, fund overview, and third-party summaries.]
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